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Category: Economy

  • December 18, 2012

    Mark questions the PM on banking union

    Following the Prime Minister’s statement in the House on the European Council, Mark made the following intervention on banking union in the EU. Mark Field (Cities of London and Westminster, Conservative) On the issue of banking union, I wholly endorse the Prime Minister’s view that we were able to secure in Brussels the very best deal in […]
  • December 12, 2012

    Some reflections on the Autumn Statement

    Well, it was never supposed to be like this. The coalition’s expenditure programme for the entire parliament was designed to have been done and dusted in November 2010. Subsequent pre-Budget reports were expected to feature only the odd tweak here and there. Last week’s Autumn Statement may have had the Westminster village agog with anticipation, […]
  • December 5, 2012

    Treasury loses out in property merry-go-round

    An abridged version of the following article appeared in this morning’s City AM. Click here to read. With continued chatter of a ‘back-door’ mansion tax and yet another increase in stamp duty, George Osborne and Vince Cable should take heed of the dramatic falling off in tax receipts after the last Budget in March. At that […]
  • November 22, 2012

    There is no third way for the City in Britain’s relationship with the EU

    An abridged version of the following article featured in this morning’s City AM. Click here Below is the full text.  Short term tactical expedience continues to outweigh longer term strategy in the coalition’s approach to both the UK’s relationship with the EU and the future of our single most important global industry, financial services. As a […]
  • October 31, 2012

    MF Global – Reception at the Institute of Directors

    Mark has been running a campaign to highlight the handling of the MF Global administration and was invited to speak briefly at an event held by affected clients at the Institute of Directors. His speaking notes are below. MF Global was a major international financial derivatives broker until it filed America’s eighth largest bankruptcy in […]
  • October 29, 2012

    Child Benefit – misery ahead?

    Mark appeared on BBC 2’s Daily Politics on Friday to discuss changes to families’ eligibility for child benefit. To view his interview, click here. He also appeared on Newsnight click here to watch. Although first mooted by the Treasury over two years ago, it is only this week that changes in child benefit will become fully apparent, […]
  • October 12, 2012

    Lack of capital and onerous HMRC rules are restraining tech start-ups

    The following article by Mark appeared in this morning’s City AM – click here to read it online. Shares for sackability. The Chancellor’s announcement earlier this week that employees could get a stake in their company in return for waiving certain employment rights seemed a rare flash of creativity from the Treasury. But as Allister […]
  • September 27, 2012

    The Road to Fiscal Union in the Eurozone?

    KAS European Roundtable, Wilton House, 21 September 2012 In spite of the annual August lull, September – with the Dutch election, the troika’s verdict on Greece and the German constitutional court ruling on the legality of the European Stability Mechanism – always promised to snap the continent’s politicians out of their sun and sangria-induced stupor. […]
  • September 27, 2012

    The great aviation debate

    London and the UK desperately require a new airport fit for the twenty-first century to serve the fast developing global market. For several years, I have favoured the Thames Estuary solution – also known as ‘Boris Island’ (click here to read my past speeches) – but we also need to face the fact that this option will take at least fifteen years before it is up and running. In the meantime we need to add additional capacity at either Gatwick or Heathrow. In light of my Party’s manifesto commitment not to expand Heathrow, the latter option comes with enormous political difficulties. However, I would suggest that any commitment to a third runway at Heathrow should come as part of a package ...
  • September 12, 2012

    The Fee Pool – London’s Essential Export

    The following article appeared in this morning’s Daily Telegraph. You can read it on the Telegraph’s website by clicking here The City of London has a proud reputation as a bastion of commercial certainty able to attract investment from every corner of the globe. Indeed it is for this reason that the recent LIBOR, money-laundering, and […]